Guideline Value

Corporate

Guideline Value for NARASIMHA AVENUE(PHASE I&II)

₹880/sq.ft.

The guideline value for Narasimha Avenue(phase I&ii) in Minjur village (Ponneri SRO, Chennai zone) is Rs 880 per sq.ft, effective 1 July 2024. It was Rs 800 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Minjur

Village

Ponneri

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹880 /sq.ft.
From 1-4-2023 ₹800 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹536 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

9/5,taluk Office Road, Ponneri, Chennai-601204
044-27974517
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Narasimha Avenue(phase I&ii)

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Narasimha Avenue(Phase I&ii) guideline value

The current guideline value of Narasimha Avenue(Phase I&ii) is Rs 880 per sq.ft. This street is located in Minjur village under the Ponneri SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Narasimha Avenue(Phase I&ii) has changed

The guideline value for Narasimha Avenue(Phase I&ii) has undergone several revisions over the years. The earliest available revision is from 2017, which recorded a guideline value of Rs 536 per sq.ft. This figure increased to Rs 800 per sq.ft in 2023, marking a 49% increase. The most recent revision, effective from 1 July 2024, sets the guideline value at Rs 880 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no recorded figures for Narasimha Avenue(Phase I&ii) in the years 2002, 2003, 2007, and 2012.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, placing Narasimha Avenue(Phase I&ii) above this median with its 2024 figure of Rs 880 per sq.ft.

Stamp duty and registration fee for property in Narasimha Avenue(Phase I&ii)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Narasimha Avenue(Phase I&ii)?

The Sub Registrar Office that covers Narasimha Avenue(Phase I&ii) is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Minjur

The guideline value is a crucial aspect of property transactions in Minjur, as it determines the stamp duty and registration fees payable during the registration process. Buyers and sellers must refer to the latest guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value serves as a benchmark for the transaction. The actual sale price or the guideline value, whichever is higher, is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Narasimha Avenue(Phase I&ii)?

The current guideline value of Narasimha Avenue(Phase I&ii) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 536 per sq.ft in 2017 to Rs 800 per sq.ft in 2023, and currently stands at Rs 880 per sq.ft in 2024. This reflects a significant increase over the years.

What are the stamp duty and registration fees for properties in Narasimha Avenue(Phase I&ii)?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 79,200 based on the current guideline value.

Which office handles property registrations for Narasimha Avenue(Phase I&ii)?

The Ponneri Sub Registrar Office handles property registrations for Narasimha Avenue(Phase I&ii), located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the significance of guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the appropriate duties are paid based on the current market standards.